Exploiting the Big Data advantage - right-sizing for FX algorithms

William Essex sets out to explore the nature of Big Data and to discover what opportunities and challenges its arrival presents to developers of FX algorithms.

Big Data, meet Big Media. No, not Social; just Big. Today’s “Big” story is not that the data itself has grown in volume, variety, size; what’s significant is that we have become so very proficient at managing our various data collection, distribution and delivery media. The data itself has always been there – who paid what to whom, what that did to the market, who reacted and how – but now we’re capable of gathering up so much more of it, so much more quickly. Invited to give his own working definition of the term, Simon Garland, chief strategist at Kx Systems, says: “Big data is what causes you to sigh when you know you’ve got to collect that much data. It’s when your IT people roll their eyes. That’s big data.” It may be an asset, and let’s hope we can make it one, but it’s also potentially a nuisance. Kevin Covington, CEO, ITRS, says: “Big data is an issue we created for ourselves. Largely, we gave ourselves this...continued

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